The PBOC signaled a stronger yuan by setting the USD/CNY central parity at 6.7330, falling well below market expectations of 6.7973 and the previous day's fix.
The PBOC set the USD/CNY central parity at 6.7330, lower than the previous fix of 6.7367, signaling a slight official leaning toward a stronger yuan against the dollar.
The People’s Bank of China set the USD/CNY central parity rate at 6.7330 for Friday's trading session. This fix sits below the previous day's level of 6.7367 and significantly under the Reuters estimate of 6.7973, indicating an official preference for a stronger yuan.
The central parity rate is the daily reference point set by the People's Bank of China, around which the USD/CNY exchange rate is allowed to fluctuate within a specific band.